State of New Jersey Common Pension Fund D Has $2.29 Million Stock Position in Premier, Inc. (NASDAQ:PINC)

State of New Jersey Common Pension Fund D decreased its stake in shares of Premier, Inc. (NASDAQ:PINCGet Rating) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,488 shares of the company’s stock after selling 7,825 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Premier worth $2,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in Premier by 37.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,185 shares of the company’s stock worth $42,000 after buying an additional 320 shares in the last quarter. Range Financial Group LLC lifted its position in Premier by 1.1% during the 3rd quarter. Range Financial Group LLC now owns 38,898 shares of the company’s stock worth $1,320,000 after buying an additional 417 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Premier by 0.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,152 shares of the company’s stock worth $2,426,000 after buying an additional 433 shares in the last quarter. Captrust Financial Advisors lifted its position in Premier by 48.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,362 shares of the company’s stock worth $49,000 after buying an additional 445 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in Premier by 10.9% during the 3rd quarter. Ritholtz Wealth Management now owns 7,596 shares of the company’s stock worth $258,000 after buying an additional 746 shares in the last quarter. Institutional investors and hedge funds own 66.93% of the company’s stock.

Premier Price Performance

Shares of PINC opened at $33.61 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.73 and a current ratio of 0.88. The stock has a 50 day simple moving average of $33.53 and a 200 day simple moving average of $34.88. Premier, Inc. has a 52-week low of $30.82 and a 52-week high of $40.48. The firm has a market capitalization of $3.99 billion, a PE ratio of 21.68, a P/E/G ratio of 1.40 and a beta of 0.32.

Premier (NASDAQ:PINCGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Premier had a net margin of 13.50% and a return on equity of 11.35%. The business had revenue of $313.87 million during the quarter, compared to analyst estimates of $327.95 million. Sell-side analysts predict that Premier, Inc. will post 2.37 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.84 annualized dividend and a dividend yield of 2.50%. Premier’s dividend payout ratio is presently 54.19%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PINC. Barclays dropped their price objective on Premier to $33.00 in a report on Thursday, October 13th. StockNews.com cut Premier from a “strong-buy” rating to a “buy” rating in a report on Friday. Raymond James dropped their price objective on Premier from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Robert W. Baird raised Premier from a “neutral” rating to an “outperform” rating and set a $41.00 price objective for the company in a report on Wednesday, November 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Premier from $41.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.56.

About Premier

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Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.

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Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

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